Browsing Tag credit and collections

In my last post I called attention to the awesome contest going on over at InsideARM.com (Share Your Best Collections Story and Win $50!).

The contest closed a few days ago, and the entries have been filtered down to the final five. The polls are currently open and I encourage you to stop by and vote for your favorite story.

Here is a brief overview of the finalists:

• KEEPING INSURERS HONEST – Read how one collector helped a consumer get to the bottom of a $240,000 account.
• COLLECTORS HELP SHOOTING VICTIM – Collectors in one agency raise $2,000 to pay off an account for a consumer who fell victim to a mass shooting in a mall.
• THANK YOU, GRETTA – Ever receive a thank you note from a thankful customer? Read along as Monica expresses her gratitude for one collector’s willingness to help her find a solution.
• STICK TO THE BUDGET – A collector helps a young couple develop a budget to pay their bills. Two years later they come back — debt free — for additional advice as they plan for buying a house.
• DREAM HOME – A collector receives a thank-you note after helping a customer close on her new house by clearing up misinformation.

Photo on Flickr c/o Theresa Thompson

 InsideARM.com is currently running a contest for the Best Collection Story! And, get this…the winner will get their hands on a crisp $50 bill! Cha-ching!But, you gotta hurry. The contest closes on April 30th! Here are the details c/o of InsideARM.com: 

 Debt collectors: We’re looking for the best collection stories in the industry. They can be inspiring, funny, poignant…whatever you’ve got. 

 We’ll pick the top submissions and then showcase the finalists on insideARM for a reader vote to determine a winner.. The story with the most votes wins a $50 gift certificate to Amazon.com. 

 This is the first contest in a series we will be running for ARM professionals. We want to show the world that collectors approach their work basically the same way as everyone else, even if our stories are unique to the collection industry. Be on the lookout for more contests, complete with prizes, very soon. 

 So send in those stories where you helped someone with a long-running debt, or received payment in full in nickels, or had a consumer speak to you in Scooby Doo’s voice. There are no guidelines, just please keep the stories clean and respectful. 

 Submissions will be accepted until April 30, with voting beginning the following week on this page. 

 Email editor@insidearm.com or use the form here http://www.insidearm.com/go/story-contest to submit your story. Remember: you only have until April 30.

FOR IMMEDIATE RELEASE:

Grand Rapids, MI (April 7, 2010) – The following statistics are provided to the ARM industry courtesy of WebRecon LLC.

FDCPA and Other Consumer Rights Lawsuit Statistics, April 7, 2010

There were about 545 lawsuits filed under consumer statutes in the second half of March. Here is an approximate breakdown:
 476 Fair Debt Collection Practices Act
 42 Fair Credit Reporting Act
 17 Truth In Lending Act
 2 Equal Credit Opportunity Act
 2 Electronic Fund Transfers Act
 1 Higher Education Opportunity Act
 1 Home Ownership And Equity Protection Act
 2 Internal Revenue Code
 1 Personal Injury
 2 State of California Consumer Statutes
 1 State of Florida Consumer Statutes
 1 State of Maryland Consumer Statutes
 1 State of New York Consumer Statutes
 1 State of Ohio Consumer Statutes
 1 State of Vermont Consumer Statutes
 2 State of West Virginia Consumer Statutes
 3 Real Estate Settlement Procedures Act

Summary:
 Of those cases, there were about 588 unique plaintiffs (including multiple plaintiffs in one suit).
 Of those plaintiffs, about 172 had sued under consumer statutes before.
 Combined, those 172 plaintiffs have filed about 1045 lawsuits since 2001
 Actions were filed in 111 different US District Court branches.
 About 525 different collection firms and creditors were sued.

The top courts where lawsuits were filed:
 36 Lawsuits: Illinois Northern District Court – Chicago
 30 Lawsuits: Colorado District Court – Denver
 28 Lawsuits: Minnesota District Court – DMN
 25 Lawsuits: Pennsylvania Eastern District Court – Philadelphia
 25 Lawsuits: Georgia Northern District Court – Atlanta
 24 Lawsuits: California Central District Court – Western Division – Los Angeles
 20 Lawsuits: New York Western District Court – Buffalo
 15 Lawsuits: New York Eastern District Court – Brooklyn
 13 Lawsuits: New York Eastern District Court – Central Islip
 12 Lawsuits: California Northern District Court – San Francisco

The most active consumer attorneys were:
 Representing 23 Consumers: Sergei Lemberg
 Representing 21 Consumers: Brent F. Vullings
 Representing 20 Consumers: David Michael Larson
 Representing 17 Consumers: Todd Michael Friedman
 Representing 17 Consumers: James D. Pacitti
 Representing 17 Consumers: James Marvin Feagle
 Representing 16 Consumers: Craig Thor Kimmel
 Representing 15 Consumers: Adam Jon Fishbein
 Representing 15 Consumers: Nicholas J. Bontrager
 Representing 13 Consumers: Jon N. Robbins

Statistics Year to Date:
2816 total lawsuits for 2010, including:
 2403 FDCPA
 255 FCRA
 8 TCPA
 101 TILA (Truth in Lending Act)

Number of unique Plaintiffs: 2869 (including multiple plaintiffs in one suit)

The most active consumer attorneys of the year:
 Representing 92 Consumers: Ryan Scott Lee
 Representing 90 Consumers: Matthew William Kiverts
 Representing 90 Consumers: Brent F. Vullings
 Representing 83 Consumers: Sergei Lemberg
 Representing 80 Consumers: David Michael Larson

About WebRecon LLC: Creditors and collection firms use WebRecon’s services to easily segregate predictably litigious consumers from their databases. A significant percentage of consumer litigation is initiated by the same consumers over and over again, and screening them out of the general population can reduce lawsuits by as much as a third.

Plymouth, NH – With social media taking over as the new way to market, network and grow your business, the credit and debt collection industry is no exception. Michelle Dunn, the founder of the American Credit and Collections Association has created a social networking website for anyone who wants to learn more about collecting money, credit management and networking with others within the industry.

Membership is free and members can create a profile, upload videos, start a blog, join groups, ask questions and much more. Visit Americancreditandcollections.ning.com/
to join and keep up to date on what is happening in the industry, meet new people, learn about industry events and expand your network.

As Michelle Dunn’s American Credit and Collections Association has grown, so has its website, www.Credit-and-Collections.com. Any industry is only as strong as its members and membership has skyrocketed over the past few years. Michelle created her association in 1998 to serve as a vital networking function, bringing members together with similar interests and to share best practices and in the process, make the entire debt and credit industry stronger.

Individuals join Dunn’s Credit and Collections Association for many reasons. Some join because they are thinking about starting a collection agency, or they may work for one. Some other members include credit managers, business owners, book keepers, lawyers, collectors, vendors, media and the list goes on. Dunn’s new web site has been designed to present different levels of information to all members and visitors while delivering member-specific information and special discounts to members when they log in.

The member-driven website provides all members with critical information and educational tools including e-courses, conferences, webinars, books and updates on products and services.

Michelle Dunn is an award winning author and columnist. She is the founder and CEO of the American Credit & Collections Association, one of the Top 5 women in Collections, and one of the Top 50 most influential collection professionals in her industry. Michelle has been quoted and featured in The Wall Street Journal, Smart Money Magazine, CNN & other National publications.

Want to give your collections a boost? Who doesn’t in this economy!

In his Wall Street Journal article, author Raymund Flandez, provides a look at Three Best Ways to Make Sure Customers Pay.

These tips include:

1. Figure out your customers’ payment history.
2. Make it easy for them to pay.
3. Use mobile devices.

Want details? Be sure to click here to read the full article.

Grand Rapids, MI (October 23, 2009) – They’re giving it all away, for free.

In an effort to combat the exploding number of FDCPA lawsuits plaguing American collection agencies, law firms and debt buyers, WebRecon LLC has announced an offer to scrub every collection firm’s consumer database, free of charge and with no further commitment or obligation. The offer covers each firm’s entire database, or up to 5 million consumers per company.

“Nearly 1000 new litigants are emerging every month, and 2009 is on track for a 40% spike in the number of FDCPA/FCRA lawsuits over 2008,” says company CEO Jack Gordon, who is a former collection agency owner himself.

He adds, “Debt collectors are under attack seemingly from every corner – radicalized debtors, consumer attorneys, federal agencies, Congress, state legislators, state attorney generals and the media. I am looking to give those who are the most besieged something of extraordinary value.”

Every lawsuit prevented can save many thousands of dollars. According to Gordon, a typical agency can identify dozens or even hundreds of prior litigants and head off any potential impending action from them.

The service, which is priced lower than the cost of defending or settling a single typical lawsuit per year, includes four components to help agencies identify prior litigants:

A searchable database of consumer lawsuits to find individual litigants, defendants or attorneys.
A batch process that can segregate prior litigants at the rate of one million accounts per hour.
A semi-monthly spreadsheet of all new litigation.
The semi-monthly ‘Litigant Hotsheet’ which quickly identifies the most active consumer litigants.

The companies that take advantage of this offer will have the option, at the end of the free scrub, to continue with the month-to-month service.

“Of course, I hope many of them will choose to stay on,” said Gordon, “but even if they just try it out and find some value from their initial scrubs, I will be happy to see them benefit from denying the professional litigants out there additional opportunities to extort money from our industry.”

Any collection firms who wish to learn more can visit www.webrecon.com/free

This offer expires on December 31, 2009, and slots are expected to fill up quickly.

About WebRecon LLC: Creditors and collection firms use WebRecon’s services to easily segregate predictably litigious consumers from their databases. A significant percentage of consumer litigation is initiated by the same consumers over and over again, and screening them out of the general population can reduce lawsuits by as much as a third.

For more information or interview requests, please contact:

Jack Gordon, CEO
WebRecon LLC, The FDCPA Litigant Alert
Web: www.WebRecon.com
Email: admin@webrecon.net
Phone: (616) 682-5327

###

FACT or FICTION?
The Fair Debt Collection Practices Act (FDCPA) was signed into law by U.S. President John F. Kennedy.

And, the survey says . . . . . FICTION!

The FDCPA (HR 5294) was signed into law by President Jimmy Carter at 10:00 a.m. on Tuesday, September 20, 1977!

Read President Carter’s speech on HR 5294 here.

FOR IMMEDIATE RELEASE:

5000 Lawsuits: A Disturbing New Milestone…
FDCPA Lawsuit Statistics Released, July 16-31, 2009

Grand Rapids, MI (August 10, 2009) – Instead of being an early Halloween fright, the milestone of 5000 FDCPA/FCRA lawsuits has become a post-Independence Day explosion on the collection and creditor firms already struggling to keep up in a troubled economy.

According to WebRecon CEO Jack Gordon, the second half of July saw us crack 5000 FDCPA/FCRA lawsuits for the year. This is nearly three months ahead of last year – in 2008, we didn’t reach 5000 lawsuits until the 2nd week of October. In 2007, 5000 wasn’t reached until the first week of December.

“This shows that the pace of new FDCPA/FCRA litigation is only accelerating,” said Gordon. “Look for this milestone to hit next year before Memorial Day.”

FDCPA Lawsuit Statistics, July 16-31, 2009

There were about 423 FDCPA cases and 79 FCRA lawsuits in the second half of July.

• Of those cases, there were about 528 unique plaintiffs (including multiple plaintiffs in one suit).
• Of those plaintiffs, about 117 had sued under FDCPA, FCRA or TCPA before.
• Combined, those 117 plaintiffs have filed about 639 lawsuits since 2001
• Actions were filed in 107 different US District Court branches.
• About 345 different collection firms were sued.

The top courts where lawsuits were filed:

• 34 Lawsuits: California Central District Court – Western Division – Los Angeles
• 30 Lawsuits: Illinois Northern District Court – Chicago
• 23 Lawsuits: Florida Southern District Court – Fort Lauderdale
• 21 Lawsuits: Pennsylvania Eastern District Court – Philadelphia
• 20 Lawsuits: Georgia Northern District Court – Atlanta
• 18 Lawsuits: California Southern District Court – San Diego
• 13 Lawsuits: New York Eastern District Court – Brooklyn
• 13 Lawsuits: New York Western District Court – Buffalo
• 12 Lawsuits: Colorado District Court – Denver
• 11 Lawsuits: California Eastern District Court – Sacramento
• 11 Lawsuits: New York Southern District Court – Foley Square
• 10 Lawsuits: Arizona District Court – Phoenix
• 10 Lawsuits: Florida Middle District Court – Tampa
• 10 Lawsuits: Florida Southern District Court – Miami
• 10 Lawsuits: New York Eastern District Court – Central Islip
• 10 Lawsuits: New York Southern District Court – White Plains

The most active consumer attorneys were:

• Representing 29 Consumers: Sergei Lemberg
• Representing 18 Consumers: Donald A. Yarbrough
• Representing 17 Consumers: Nicholas J. Bontrager
• Representing 16 Consumers: Todd M Friedman
• Representing 14 Consumers: George Thomas Martin, Iii
• Representing 13 Consumers: Adam Theodore Hill
• Representing 10 Consumers: Daniel A. Edelman
• Representing 9 Consumers: Adam Jon Fishbein
• Representing 9 Consumers: Brent F. Vullings
• Representing 9 Consumers: David Michael Larson
• Representing 9 Consumers: Jody B. Burton
• Representing 9 Consumers: Susan A Landgraf

Statistics Year to Date:
5039 total lawsuits for 2009:
• 4320 FDCPA
• 714 FCRA
• 5 TCPA

Numbers of unique Plaintiffs: 5203 (including multiple plaintiffs in one suit)

The most active consumer attorneys of the year:

• Representing 280 Consumers: Ryan Lee
• Representing 182 Consumers: Nicholas J Bontrager
• Representing 167 Consumers: Adam Theodore Hill
• Representing 165 Consumers: Kenneth R. Hiller
• Representing 159 Consumers: Daniel A. Edelman
• Representing 134 Consumers: Adam Jacob Krohn
• Representing 133 Consumers: Amanda R. Jordan
• Representing 129 Consumers: Todd M Friedman
• Representing 127 Consumers: Sergei Lemberg
• Representing 113 Consumers: George Thomas Martin, Iii
• Representing 107 Consumers: David M Marco
• Representing 104 Consumers: David Michael Larson

Contact:
Jack Gordon, CEO
WebRecon LLC, The FDCPA Litigant Alert
Web: www.WebRecon.com
Email: admin@webrecon.net
Phone: (616) 682-5327

The latest issue of collector mentor is now available for download.
Not a subscriber? Visit our website for a complimentary copy or to sign up!

A collection agency based in Bloomington, Minnesota had its collection license temporarily suspended by the Minnesota Department of Commerce for allegedly failing to remit recovered funds to its clients within 30 days. According to an article on InsideARM.com, the Department of Commerce claims the agency used the money to fund operations.